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India's wheat harvest defies market speculation

Gulf Today

|

May 29, 2025

A strong wheat harvest in India is rapidly replenishing stocks, meaning the country will be able to meet domestic demand without imports this year, contrary to market talk that it would need overseas supplies, and a potential drag on global prices.

India banned exports of the staple in 2022 and extended the prohibition as extreme heat shrivelled crops again in 2023 and 2024, draining reserves, pushing prices to record highs and fuelling speculation it would need imports for the first time since 2017. But things are improving for the world's No.2 wheat producer, with early state inventory purchases signalling that this year's crop is about 4 million tons bigger than last year's, six industry and government officials said.

"After barely scraping through without imports in recent years, the country finally seems to be out of the woods and free from the fear of having to import wheat," said Amit Takkar, chief of New Delhi-based farm consultancy Conifer Commodities. The Food Corporation of India, the state stockpiler, has bought 29.7 million metric tons of new-season wheat from domestic farmers - the most in four years - after missing procurement targets for three consecutive years.

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Gulf Today

Drop denuclearisation demands, Kim urges US

North Korean leader Kim Jong Un says he still has good memories of US President Donald Trump and urged Washington to drop its demand the North surrender its nukes as a precondition for resuming long-stalled diplomacy.

time to read

2 mins

September 23, 2025

Gulf Today

Gulf Today

Abu Dhabi Securities Exchange lists region's first thematic ETF

The Abu Dhabi Securities Exchange (ADX) reinforced its position as the region's leading Exchange-Traded Fund (ETF) marketplace with the listing of the Boreas Solactive Quantum Computing UCITS ETF - the 17th ETF on ADX and the second to be listed this year.

time to read

3 mins

September 23, 2025

Gulf Today

Over 50 French towns fly Palestine flags, defy warning

Over 50 town halls in France were flying the Palestinian flag Monday in defiance of an interior ministry warning not to do so ahead of the recognition of a Palestinian state by President Emmanuel Macron.

time to read

3 mins

September 23, 2025

Gulf Today

Gulf Today

Gold surges to set fresh record high

Gold surged to set a fresh record high on Monday, buoyed by investors' heightened expectations of a dovish rate-cut path, ahead of remarks by multiple Federal Reserve officials and key inflation data later in the week.

time to read

1 mins

September 23, 2025

Gulf Today

Gulf Today

Evenepoel sets sights on making time trial history as Pogacar turns focus to road race after disappointment

Remco Evenepoel had barely crossed the finish line before declaring he would try to retain his world time trial title next year and in the process make history.

time to read

3 mins

September 23, 2025

Gulf Today

Saudi settles jail term for Keralite, rejects harsher punishment

Dismissing the prosecution appeal seeking enhanced punishment, Saudi Supreme Court upheld the lower court verdict against Machilakath Abdul Rahim, 45, a native of Feroke Kodampuzha near here, who has been imprisoned in Riyadh for over 19 years for causing the death of a differently-abled Saudi boy.

time to read

1 mins

September 23, 2025

Gulf Today

Gulf Today

Pakistan files complaint with ICC over Fakhar dismissal

Pakistan team management have lodged a complaint against the television umpire with the International Cricket Council (ICC) over a caught-behind dispute involving Fakhar Zaman in Sunday's Asia Cup Super Four match against India in Dubai, according to a report.

time to read

3 mins

September 23, 2025

Gulf Today

Torres' double strike fires Barcelona to facile win over hapless Getafe

Ferran Torres struck twice for champions Barcelona as they beat Getafe 3-0 on Sunday to stay on Real Madrid's tails at the top of La Liga.

time to read

3 mins

September 23, 2025

Gulf Today

Gulf Today

Urban Ledger launches new payment technologies

Following a successful year, Urban Ledger on Monday announced the launch of a groundbreaking suite of payment technologies, marking a major step forward in digital collections and reinforcing the company's leadership in QR code innovation across the UAE.

time to read

1 mins

September 23, 2025

Gulf Today

AUS' Shaheen project helps rescue people lost in desert

When someone goes missing in the desert, every minute can mean the difference between life and death. That urgency inspired a group of American University of Sharjah (AUS) students to develop Shaheen, a senior design project that equips drones with the ability to spot lost individuals and alert rescuers in real time.

time to read

2 mins

September 23, 2025

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